Does credit card debt have control of your life? Are you so overwhelmed with your credit card bills that you just don’t know where to turn for help?  Until recently 0% APR credit cards were pretty easy to come by so when you ran up your balance on one card you could apply for and receive another. Today, that has changed and now many people are faced with the reality of what they actually owe.

The Overspending Syndrome

The main reason why so many of us have piles of credit card debt is the simple fact that we overspend. In other words, we make purchases that we do not have the funds to pay for. When we do this month after month, eventually the debt piles up. Why do we overspend? There are countless reasons, but topping the list is the instinct of wanting to have it now and the desire to have what others have. (more…)

One of the main concerns shared by credit card users is security.  If your credit card information falls into the wrong hands, your personal finances and even your identity could be at risk.  Considering the number of transactions which are processed each day, security is a valid concern which should be taken seriously by all credit or debit card users.  The following security tips can help you protect your credit card account and personal finances.

Know Your Rights

One of the most important aspects of managing your credit card account securely is knowing your rights as a card holder.  There are many credit card users who are unfamiliar with the rights afforded to them and as result make poor decisions regarding their credit card use.  For every account open in your name, including cards you may not use, read the terms and conditions associated with each account.  There are important security disclosures included in this information which describe how much protection is offered by the issuer of your card should fraudulent activity occur.  (more…)

At one time or another most of us, and even our kids and dogs, have received a pre-approved credit card offer in the mail. Many receive such offers on a pretty consistent basis. Contrary to how these offers are advertised, receiving a pre-approved credit card application does not guarantee you will be approved. It simply means you have met certain screening criteria. Here is the low down on what pre-approval really means.

What Most Pre-Approved Cards Offer

Pre-approved credit cards that arrive in your mailbox are usually very enticing. Most offer 0% APR promotional deals for purchases. Others will entice you with low or 0% APR balance transfer deals. Additionally, many of the offers will boast about how great their rewards program is, offering additional rewards when signing up, like 25,000 free miles or a $50 cash back bonus.

How Do The Credit Card Companies Get Your Name And Address?

There are actually a variety of ways that they may have obtained your information. They might have your data from a previous application or purchased a mailing list from another bank or lender. Many credit card companies will also purchase a list of likely qualified applicants from one of the three major credit bureaus. The credit bureaus will look at criteria that would make you a likely candidate for the card that is being offered, your name is then sold to the credit card company and as a result you are then solicited. (more…)